Business: Boss of the Biggest

The giant American Telephone & Telegraph Co. quietly reshuffled its top command last week. After five years as president, Cleo F. Craig, 63, moved out of the operating slot and up to chairman of the board well before the mandatory retirement age of 65 in order to give his successor a two-year break-in period. A.T & T.'s new chief executive: President Frederick R. Kappel (rhymes with apple), 54, a 32-year man at A.T. & T., who has been head of the company's manufacturing subsidiary, Western Electric, since 1954.

A studious, tireless executive, Fred Kappel first went to work for the Bell System...

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